Amerant Bancorp Announces Pricing Of Class A Voting Stock Offering - Quick Facts

(RTTNews) - Amerant Bancorp Inc. (AMTB) announced the pricing of public offering of 7.9 million shares of its Class A voting common stock, at a price to the public of $19.00 per share, for an aggregate offering amount of $150 million. Also, the company has granted the underwriters a 30-day option to purchase up to an additional 784,210 shares of common stock at the public offering price, less underwriting discounts. The company expects to close the offering, on or about September 27, 2024.

Amerant Bancorp intends to use the net proceeds for general corporate purposes and to support continued organic growth, which may include, among other things, working capital, investments in Amerant Bank, N.A., resolution of non-performing loans, and potential balance sheet optimization strategies.